Ever wondered about Leonid Mikhelson net worth? Dive into our latest article on World of CEOs, where we uncover the financial stature of one of the richest men in the energy sector.
Stay tuned for a detailed look at his earnings and investments.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Leonid Viktorovich Mikhelson |
| Popular Name | Leonid Mikhelson |
| Gender | Male |
| Birth Date | August 11, 1955 |
| Age | 68 |
| Parents | Viktor Mikhelson, Praskovya Shirokova |
| Siblings | N/A |
| Birthplace | Kaspiysk, Russian SFSR |
| Nationality | Russian, Israeli |
| Ethnicity | Ashkenazi Jewish |
| Education | Kuibyshev Civil Engineering Institute |
| Marital Status | Married |
| Sexual Orientation | N/A |
| Wife/Spouse | Lyudmila Mikhelson |
| Children | 2 |
| Dating | N/A |
| Net Worth | $27.4 billion |
| Source of Wealth | Novatek, Sibur, Investments |
| Height | 5 fft 9 in (1.75 m) |
What is the Net Worth Of Leonid Mikhelson in 2024?
As of 2024, Leonid Mikhelson has a staggering net worth of $27.4 billion. This positions him as one of the wealthiest individuals globally, ranking 65th in the world as of 11 June 2024.
Mikhelson’s fortune primarily stems from his significant stakes in Novatek and Sibur.
To put this in perspective, Gennady Timchenko, his close business partner, has a net worth of around $23.4 billion, while Vladimir Potanin, another Russian billionaire, stands at $23.7 billion.
Mikhelson’s financial success is a testament to his strategic investments and business acumen.
Leonid Mikhelson Finance Overview
Founding and Growth of Novatek
Leonid Mikhelson‘s journey to immense wealth began with the founding of Novatek. Initially a construction engineer, Mikhelson transformed Novatek into Russia’s largest independent natural gas producer.
His strategic leadership and vision led to Novatek’s exponential growth. The company’s success is evident in its substantial contribution to Mikhelson’s net worth.
Novatek produces around 11% of Russia’s gas, highlighting its critical role in the industry and Mikhelson’s financial portfolio.
Investment in Sibur
Mikhelson’s financial empire extends beyond Novatek. In 2010 and 2011, he acquired a significant stake in Sibur, a leading petrochemical company.
His stake initially increased to 48% after purchasing shares from Kirill Shamalov, but now stands at just over 30% following Sibur’s merger with the TAIF Group in 2021.
This merger, involving assets in Tatarstan, has further solidified Sibur’s market position and enhanced Mikhelson’s wealth.
Major Business Partnerships
A crucial element of Mikhelson’s success is his partnership with Gennady Timchenko, another influential Russian billionaire. Together, they own significant shares in both Novatek and Sibur.
This partnership has been instrumental in their business ventures, enabling large-scale projects and investments.
Timchenko, like Mikhelson, has a close relationship with Vladimir Putin, which has often aided their business endeavors.
Real Estate and Other Investments
Mikhelson’s investment strategy is diverse. Apart from his stakes in Novatek and Sibur, he has significant real estate holdings and investments in other sectors.
For instance, he owns a major stake in Promsvyazbank and Samara-JSC. These investments not only diversify his portfolio but also provide substantial returns, contributing significantly to his net worth.
Art Collection and Cultural Investments
Beyond traditional business ventures, Mikhelson has a profound interest in art. He established the V-A-C Foundation, dedicated to promoting contemporary Russian art.
One of his notable investments is the transformation of a power plant across from the Kremlin into the GES-2 art space, costing over $470 million.
His art collection includes works by renowned artists like Christopher Wool and Gerhard Richter, adding both cultural and financial value to his portfolio.
Financial Impact of Sanctions and Political Factors
Mikhelson’s wealth hasn’t been without challenges. He has been subjected to sanctions, notably those imposed by the British government in 2022 due to the Russo-Ukrainian War.
These sanctions have impacted his business operations and financial activities. Despite this, Mikhelson has employed strategic measures to mitigate these risks and maintain his financial stability.
FAQs about Leonid Mikhelson
Who is Leonid Mikhelson?
Mikhelson is a top Russian billionaire. He leads Novatek, the largest independent natural gas producer in Russia, and owns a big part of Sibur, a major petrochemicals company.
Born on August 11, 1955, he started in construction and moved into gas and energy after the Soviet Union fell.
How did Leonid Mikhelson start his career?
Mikhelson began as a foreman in Siberia after graduating from the Samara Institute of Civil Engineering. He worked on the Urengoi-Chelyabinsk gas pipeline.
In 1987, he became General Director of Kuibishevtruboprovodstroy, which was privatized after the Soviet Union’s collapse. This led to the formation of Novatek.
What are his main business ventures?
Mikhelson’s main businesses are Novatek and Sibur. Novatek has grown globally and is key in the LNG market. Sibur is a leading petrochemicals company in Russia.
What are some of his notable achievements?
Mikhelson has won several awards for his work in the energy sector. He received the Order of the Badge of Honor from Russia and was named Russian Business Leader of the Year by the World Economic Forum in 2020.
How does he contribute to philanthropy?
Mikhelson is a known philanthropist, mainly through his V-A-C Foundation, which supports contemporary Russian art. He also funds educational and research initiatives.
What is his involvement in the art world?
Mikhelson loves art and has a vast collection of contemporary works. His V-A-C Foundation has spaces in Venice and Moscow to show contemporary art and foster cultural exchange.
Is he involved in politics?
Mikhelson stays out of politics. He focuses on business and philanthropy, keeping his enterprises away from political issues.
What are some of his luxurious possessions?
Mikhelson owns a home in Barvikha, valued at $150 million. It features a wellness center and home cinema. This shows his luxurious lifestyle.
How has his wealth fluctuated?
Mikhelson’s wealth varies with the global oil and gas market. Despite challenges, his net worth generally rises, showing his businesses’ resilience and growth.
Conclusion
Leonid Mikhelson isn’t just one of the top richest CEOs; he’s a beacon of financial acumen. His journey offers valuable insights for anyone interested in wealth growth.
For more details, visit worldofceos.com and explore our in-depth analysis.
